YEREVAN. – Foreign investments made to Armenia constituted $266.1 million in January-June 2012, which is a 39.4-percent reduction as compared with the same time period last year, the National Statistical Service informs. 

This drop is conditioned primarily on the investment passiveness by Russian, French, and American companies. 

The Russian investments reduced because of the lack of investments made to the production of base metals. The French investments dropped mostly because of the reduction in the investment programs by the Orange Armenia telecommunication company.      

But, instead, Canadian companies’ investments to Armenia have increased 5.7 times and, as a result, Canada has become Armenia’s largest investor with $82 million. For the most part, Canadian investments are made toward metal ore extraction.   

Also, Swiss investments to Armenia have risen 4.1 times, and thus Switzerland has become Armenia’s third largest investor, with $26 million, coming behind Russia; this is connected with a Swiss company constructing a mineral water factory in Kotayk Region.    

To note, 45 percent—or approximately $120 million—of the foreign investments to Armenia were made toward the mining industry, including mineral waters. A total of $47 million and close to $24 million were invested in the country’s telecommunication sector and real estate market respectively.